Current Affairs: Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

PMKVY will impart fresh training to 60 lakh Youths and certify skills of 40 lakh persons acquired non-formally under the Recognition of Prior Learning (RPL). The target allocation between fresh training and RPL will be flexible and interchangeable depending on functional and operational requirements.

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of Rs.12000 crore to impart skilling to one crore people over the next four years (2016-2020).

About Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a unique initiative by the Government of India that aims to offer 60 lakh Indian youth meaningful, industry relevant, skill based training. Under this scheme, the trainees will be offered a financial reward and a government certification on successful completion of training and assessment, which will help them in securing a job for a better future.

The Scheme, completely aligned to the Common Norms as notified earlier, would move to a grant based model where the training and assessment cost would be directly reimbursed to training providers and assessment bodies in accordance with the Common Norms.